Lotus Production Resumes At Full Pace

British sports car firm Lotus has been battling with finances and trying to secure its future ever since its parent company Proton, which was Malaysian state owned, was sold to DRB-Hicom.

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Lotus May Be Sold To China's Youngman

Earlier warning signs were brought to attention this year when Lotus’ Malaysian parent company Proton sold a controlling stake to another Malaysian conglomerate, DRB-Hicom. As per Malaysian law, Lotus had to halt all business operations and freeze its financial accounts during the 60-day transition period.

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Lotus Searching for New Parent Company

Dany Bahar, the current CEO of Lotus is reportedly looking for a buyer to purchase the company from current Malaysian parent Proton.

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Lotus CEO Denies Plans To Spin Lotus From Proton


Lotus impresario and well-coiffed CEO Dany Bahar has denied reports that he’s planning to divorce Lotus from its Malaysian parent company Proton—right after he mentioned that, well, he might.

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2012 Hyundai Accent Defies Gravity [Video]

While Hyundai‘s undoubtedly been on a roll lately, they haven’t quite managed to bend the laws of physics, despite what their newest stunt may suggest.

Hyundai’s Malaysian arm suspended a 2012 Accent from the vertical face of a building, and had a driver wearing some futuristic garb descend towards the Accent. Through the use of some trick 3D projection and properly spinning wheels, the Accent really looks like it’s driving. Check out the video below.

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No Deal Between Volkswagen and Proton/Lotus

According to previous reports, a deal between the two automakers would see Proton get platforms and engines from VW to use for new models in its home market, while VW would presumably get getter access to Asian markets. It’s likely that VW’s recent stake in Suzuki has made that mostly redundant, while an ongoing Proton-Mitsubishi partnership would only have complicated the bargaining process.

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Volkswagen in Talks With Proton Over Possible Tie-Up

In the past few months Volkswagen has expanded to become an even larger global player, taking over Porsche and announcing a majority stake in Italdesign Giugiaro. Now Germany’s largest automaker may be looking to add yet another brand to its stable – Proton. The Malaysian automaker might not be all that familiar to audiences in North America, but we’re certain you’ve heard of its sports car division – Lotus.

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Report: Lotus Unveils F1 Wind Tunnel Test Car, Announces Plans for 2010 Season


Lotus is set to return to Formula 1 next year and with a dedicated group of followers and the media circus that surrounds any British F1 team, the company has released some of its plans and ambitions for the 2010 season, along with the first full-sized wind tunnel model.

Lotus F1 Racing Chief Technical Officer Mike Gascoyne said in an interview-style statement that while the team as huge challenges ahead of it with such a short preparation time, it hopes to have a full vehicle ready for February testing.

As for the car, Gascoyne says the Lotus team is working with Fondtech for the aerodynamics, Xtrac for the gearbox and a deal with Cosworth has been arranged for the engine company to supply engines. Gascoyne also comments that the team is working with technical experts in Malaysia. In fact, the Malaysian connection is a big part of the Lotus team with financing coming from both the country’s private sector as well as through the Malaysian government. In return, Malaysia intends to use the team as a marketing expert to help promote the country on the world stage. In addition, Lotus has a long term plan to set up an engineering center at the country’s Sepang race circuit.

With a long and storied history in motorsports and Formula 1 there are a lot of expectations behind the Lotus team, but Gascoyne says they have to be realistic. “We are a new team and we are starting our development late,” he said, “so it will be an achievement just to get two cars on the Bahrain grid. I hope by the middle of the season we will have established ourselves as the best of the rookie teams and then continue to make forward progress for the rest of the year.”

As for the driver’s Lotus is entertaining several offers and no doubt trying to poach some experts from other teams. One of the leading candidates is rumored to be long-time Toyota driver Jarno Trulli.

Official release after the jump:

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Report: Lotus CEO Mike Kimberley Retires

Lotus CEO Mike Kimberley has announced his retirement as the head of the U.K. based sports car maker due to medical reasons. The 70-year-0ld Kimberley has been suffering from severe back pain, underwent surgery in 2008 and has now been advised by his doctors to resign his position.

“Sadly, it is on doctor’s orders that I am stepping down but I will leave confident that Lotus is in great shape with a strong management team fully supported by our shareholder in Malaysia,” Kimberley said in a statement. “It’ll be very hard to leave knowing that there are such exciting times ahead but I’ll take with me many very happy memories. I want to extend my thanks to the company’s shareholder for their unfailing support, my management team and the wonderful staff both at Hethel and at our various operational locations throughout the world. Most of all I want to thank our Lotus customers and loyal fans worldwide for their support over the years.”

Kimberley started his career with Jaguar in 1953 and has since worked in the automotive industry for 56 years. He joined Lotus in 1969, leaving in 1992 to pursue other opportunities with companies like General Motors and Lamborghini, before returning to Lotus in 2006.

Since then Kimberley has over seen the production of the Evora, as well as the expansion of Lotus Engineering, a world renowned high-tech engineering firm.

Kimberley will officially retire on tomorrow, July 17th.

Official release after the jump:

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